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CA Intermediate · Taxation · Provisions for filing Return of Income and Self Assessment

Mr. Arvind Kulkarni, a resident individual, runs a trading business in Pune whose accounts must be audited for tax year 2026-27. He has no international or specified domestic transactions. By which date should he furnish his return of income to be treated as filed within the due date?

The due date is 31 October 2027. An assessee whose accounts require a tax audit, and who has no transfer pricing report to furnish, must file by 31 October after the end of the tax year. The 31 July date applies to non-audit individuals.

  1. A31 July 2027
  2. B31 August 2027
  3. C31 October 2027Correct
  4. D30 November 2027

Explanation

For an assessee whose accounts are required to be audited under the tax law, and who has no transfer pricing report, the due date is 31 October following the tax year, here 31 October 2027. 31 July applies to non-audit individuals, and 30 November applies only where a transfer pricing report is required.

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